$1,500,000
Active · 175 days on market · MLS# MFRC7513515
| Living area | 3,335 sq ft |
|---|---|
| Lot size | 0.46 acres |
| Year built | 2005 |
| Property type | Office |
| Waterfront | Yes |
| Annual taxes | $8,928 |
| County | Charlotte |
Investor alert!! 4.82% Cap Rate. Free-standing medical office building located on Toledo Blade Blvd in Port Charlotte leased to Heartland Dental! Annual Average Daily Traffic Count on Toledo Blade Blvd 20,000! Roof replaced 4/6/2022. Amazing location less than 0.3 miles from Tamiami Tr and less than 6 miles from I75!sign replaced in 2024. The current lease in place expires July 31, 2028. Tenant has three (3) renewal terms of f ive (5) years each in duration. The current gross income is $91,599.72 and the current net income is $72,323.79. Real estate tax + insurance are passed through to the tenant, and the tenant handles the landscaping. Renewal Term 1 is a 15% increase at $112,669.22 annual rent ($33.79 PSF) for years 6-10. Renewal Term 2 and 3 to be negotiated at Fair Market Value. Tenant has the Right of First Refusal. Heartland Dental has 1,700+ supported offices and 2,800+ supported doctors across 38 states and they employ over 20,000 team members. Do not disturb tenant.
Listing courtesy of Kayla Weiss-Bohnstedt, COLDWELL BANKER REALTY. Presented by MC Homes Realty Inc · 727432218.